Free Money For Billionaires

Larry Summers is up to his thick neck with the Silicon Valley scammers, and I should've known that when he went on TV and said "oh, everything will be fine, AS LONG AS EVERYBODY [friends and business partners of Larry] GETS ALL THEIR MONEY BACK" that the fix was in.

Think of it this way: the FDIC could have extended deposit insurance to $20 million. An eighty-fold increase.
They STILL would have saved over $13 billion from bailing out these 10 depositors.

— david dayen (@david_dayen) March 28, 2023

Shame on all the journalists who ran their PR-placed OH NO A SMALL BUSINESS IS WORRIED ABOUT MAKING PAYROLL stories. Those small businesses never had anything to worry about, and "we" only worry about such things when a billionaire might lose his 3rd yacht.